Truist Financial Co. (NYSE:TFC) Stake Boosted by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. increased its stake in shares of Truist Financial Co. (NYSE:TFC) by 5.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,097 shares of the insurance provider’s stock after purchasing an additional 1,527 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Truist Financial were worth $1,202,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CreativeOne Wealth LLC bought a new position in shares of Truist Financial in the first quarter worth about $516,000. M&G Plc bought a new position in shares of Truist Financial in the 2nd quarter valued at about $2,804,000. Dimensional Fund Advisors LP grew its stake in shares of Truist Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after purchasing an additional 299,196 shares during the period. Boston Common Asset Management LLC raised its holdings in Truist Financial by 66.4% in the third quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock worth $6,609,000 after purchasing an additional 61,683 shares during the period. Finally, PGGM Investments bought a new position in shares of Truist Financial during the 1st quarter valued at about $611,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TFC. The Goldman Sachs Group decreased their target price on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Barclays upped their target price on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company lifted their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank of Canada increased their target price on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, UBS Group lifted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.37.

Truist Financial Price Performance

TFC stock opened at $46.79 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The stock’s 50 day simple moving average is $43.27 and its 200 day simple moving average is $41.33. Truist Financial Co. has a 12-month low of $31.23 and a 12-month high of $47.57.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Research analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.45%. Truist Financial’s dividend payout ratio is currently -145.45%.

Truist Financial Company Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.